Advanced Inhalation aims to price IPO of 675,000 units at $15.00

Offering conducted by Joseph Gunnar, slated to fund working capital

By Devika Patel

Knoxville, Tenn., Jan. 12 – Advanced Inhalation Therapies (AIT) Ltd. will sell 675,000 units in its initial public offering with a 45-day, 15% greenshoe of 303,750 additional units, according to an FWP filed Tuesday with the Securities and Exchange Commission.

The units of two ordinary shares and three warrants will be sold at an expected price of $15.00 per unit, with each warrant exercisable for five years.

Joseph Gunnar & Co. is the bookrunner.

Proceeds will be used for clinical studies, working capital and general corporate purposes.

The biopharmaceutical company is based in Rehovot, Israel.

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